Updated September 29, 2026 · BrokerCue Editorial Team
Firstrade vs Interactive Brokers
What sets them apart
| Compare |  Firstrade |  Interactive Brokers |
|---|---|---|
| Markets | Stocks, ETFs, Options, Funds | Bonds, ETFs, Forex, Funds, Futures, Options, StocksCovers more |
| Regulators | SIPC, FINRA | SEC, FCA, SIPC |
| Options contract fee | $0Lower | $0.65 |
| Platforms | Web, iOS, Android, IPad | Client Portal, IBKR Desktop, IBKR Mobile, Trader Workstation |
| Account types | IRA, Roth IRA, Joint | ISA, SIPP, IRA, Joint, Corporate |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Margin rate | Not confirmed | 4.38% |
| Deposit and withdrawal fees | Free for bank transfers, $25 for wire transfers | Not confirmed |
| Interest on cash | Not confirmed | 3.38% |
Same on both: Minimum deposit ($0), Stock trade fee ($0), Investor protection (SIPC up to USD 500,000).
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Key differences
- Interactive Brokers scores higher overall: 9.6 vs 9.5.
- Regulators: only Firstrade offers FINRA.
- Regulators: only Interactive Brokers offers SEC, FCA.
- Founded is lower at Interactive Brokers: 1978 vs 1985.
- Interactive Brokers is licensed in 1 more country.
- Options contract fee is lower at Firstrade: $0 vs $0.65.
- Markets: only Interactive Brokers offers Bonds, Forex, Futures.
- Platforms: only Firstrade offers Web, iOS, Android.
- Platforms: only Interactive Brokers offers Client Portal, IBKR Desktop, IBKR Mobile.
- Account types: only Firstrade offers Roth IRA.
Our verdict on each
Firstrade
Firstrade is a US commission-free broker for retail savers who want retirement accounts and low costs in the same place. Protection is listed as SIPC up to USD 500,000, the minimum deposit is $0, and the trade-off is a market list limited to US equities, funds and options.
Interactive Brokers
Interactive Brokers suits investors who want a single account across ISA, SIPP, IRA, joint and corporate holdings, with stocks, bonds, funds, forex, options and futures behind it. It ranks 1 of 213 brands on minimum deposit at $0, and stock trades are charged at $0.
Score breakdown
| Area | Firstrade | Interactive Brokers |
|---|---|---|
| Cost | 9.5HigherStock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. | 9.3Stock trades cost $0, the minimum deposit is $0 and an options contract costs $0.65. |
| Offer | 9.4 | 9.6HigherAccount types cover isa, sipp and ira, and the market list spans bonds, etfs and forex. |
| Trust | 9.6 | 9.8Higher |
Which one suits you
Pick Firstrade if options contract fee matter most.
Pick Interactive Brokers if markets matter most.
Where these facts come from
Firstrade
- firstrade.com: 12 facts, checked September 26, 2026
- brokerchooser.com: 3 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
Interactive Brokers
- interactivebrokers.com: 9 facts, checked September 26, 2026
- brokersway.com: 2 facts, checked September 26, 2026
- toponlineforexbrokers.com: 2 facts, checked September 26, 2026
- euinvestinghub.com: 1 fact, checked September 26, 2026
- eupersonalfinance.eu: 1 fact, checked September 26, 2026
How they place
| Ranking | Firstrade | Interactive Brokers |
|---|---|---|
| Stock and ETF brokers | 38 of 490 | 35 of 490 |
| Options trading platforms | 10 of 103 | 7 of 103 |
Every fact side by side
| Fact | Firstrade | Interactive Brokers |
|---|---|---|
| Features | Demo account, Options, Mobile app, Fractional sharesCovers more | Fractional shares, Mobile app |
| Pricing model | Commission free | Commission free, Low feesCovers more |
| Audience | Beginners, Experienced, Day traders | Not confirmed |
| Legal entity | FIRSTRADE SECURITIES INC | INTERACTIVE BROKERS LLC |
| Headquarters | United States | United States |
| Founded | 1985 | 1978Lower |
| Support channels | Phone, Help centre | Help centre, Community |
Robo-advisors
| Fact | Firstrade | Interactive Brokers |
|---|---|---|
| Portfolio types | Not confirmed | ETF |
Where each stands against the rest
| Fact | Firstrade | Interactive Brokers | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $0below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Margin rate | Not confirmed | 4.38%below the median | 8.79% |
| Options contract fee | $0lowest quarter | $0.65above the median | $0.59 |
Median across 99 listed brokers.
Pros and cons
Firstrade
Pros
- Regulated in the US by FINRA and SIPC, with protection stated as SIPC up to USD 500,000 and a membership record at SIPC member 34642.
- A traditional IRA, a Roth IRA and a joint account all sit in ira, roth ira and joint under the commission-free pricing in commission free, so retirement and shared accounts hold at the same cost.
- Fractional shares and a demo account sit in demo account, options and mobile app, which helps the beginners and day traders named in beginners, experienced and day traders start small.
Cons
- The market list in stocks, etfs and options covers stocks, ETFs, options and funds, a narrow range next to eToro at stocks, etfs and forex and CFI at stocks, etfs and forex.
- Live chat and email are not among the listed support channels (phone and help centre), which pair a phone line with a help centre.
- An ISA and a SIPP are not among the listed account types (ira, roth ira and joint), which cover a traditional IRA, a Roth IRA and a joint account.
Interactive Brokers
Pros
- A stock trade costs $0 and the minimum deposit is $0, the pairing behind rank 1 of 161 on stock trade fees among the brokers tracked here.
- The account types listed cover isa, sipp and ira, so an ISA, SIPP, IRA, joint or corporate account all sit under a single provider.
- bonds, etfs and forex puts stocks, ETFs, bonds, funds, forex, options and futures on the same account, with a margin rate of 4.38% for geared positions.
Cons
- Support runs on help centre and community, so a phone line and live chat sit outside the offer.
- bonds, etfs and forex covers shares, ETFs, bonds, funds, forex, options and futures but leaves out crypto and CFDs, which eToro lists in stocks, etfs and forex.
- An options contract costs $0.65 against a stock trade at $0, so options strategies pay a visible premium per contract.
Who each suits
Firstrade
Who it suits
- US savers who want commission-free stock and ETF trading inside a retirement account, since the list in ira, roth ira and joint covers an IRA and a Roth IRA.
- Investors who trade in small amounts, because fractional shares in demo account, options and mobile app work alongside a $0 entry point.
- Day traders in US equities, named in beginners, experienced and day traders with a mobile app among the platforms in Web, iOS and Android.
Who should look elsewhere
- Traders who want forex, CFDs or crypto alongside equities: eToro lists stocks, etfs and forex and CFI lists stocks, etfs and forex, while Firstrade stays within stocks, etfs and options.
- UK and European savers who need a tax wrapper, since ira, roth ira and joint names no ISA or SIPP. Vantage, which sets $5 as its entry point, is worth pricing alongside.
Interactive Brokers
Who it suits
- Investors holding money across several wrappers, since the account types listed cover isa, sipp and ira.
- Traders who want options, futures, forex and bonds alongside shares on a single account, per bonds, etfs and forex.
- Anyone starting with a small balance: the minimum deposit is $0 and fractional shares appear in the feature list (fractional shares and mobile app).
Who should look elsewhere
- Anyone who trades crypto or CFDs, since bonds, etfs and forex leaves both out while eToro lists them in stocks, etfs and forex.
- Readers who want a stated entry figure as a signal of the provider's target size, since Vantage publishes $5 where this broker's minimum is $0.
Country by country
| Country | Firstrade | Interactive Brokers |
|---|---|---|
| United States | Yes | No |
Questions about each
Firstrade
What does it cost to trade stocks and options?+
Stock trades cost $0 and the options contract fee is $0, so nothing is charged per trade on either side. The pricing model listed is commission free, which matches that, and the same terms apply to stocks and options contracts. A reader comparing quotes will find the same line on both markets.
Are there account or inactivity fees?+
The account fee is $0 and the inactivity fee is $0, so an account can sit open and untouched without an annual charge or a dormant penalty. That suits a saver who funds a retirement account and does not trade every month, since holding a small balance costs nothing beyond the trades themselves.
Interactive Brokers
What does it cost to trade shares?+
A stock trade is charged at $0 and the minimum deposit is $0, so opening an account and dealing in shares carry no charge. The money sits in derivatives and leverage instead, where an options contract costs $0.65 and the margin rate is listed at 4.38%.
Is my money protected?+
The regulatory list runs to SEC, FCA and SIPC, and investor protection is stated as SIPC up to USD 500,000. The UK entry is the FCA under licence 208159, while the US side names the SEC and the SIPC membership SIPC member 53615. The protection figure describes the scheme stated for the account and says nothing about how a trade performs.
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